If you pull the parachute, it's very likely to be a hull loss.
There are a whole lot of scenarios where you might pull the parachute but have a decent chance of getting down safely.
So, the parachute optimizes for occupant survival, but not survival of property. Insurers are in a conflicted scenario here: lowering injury claims but increasing property losses.
Teslas are in a very similar position and you can get insurance for those.
It's a total loss if you need any kind of body work (due to absurdly long wait times and Tesla considering damn near everything on the car structural) or anything related to the battery (due to replacement cost).
There are a whole lot of scenarios where you might pull the parachute but have a decent chance of getting down safely.
So, the parachute optimizes for occupant survival, but not survival of property. Insurers are in a conflicted scenario here: lowering injury claims but increasing property losses.